Arcutis Biotherapeutics (NASDAQ:ARQT) Stock Price Expected to Rise, Mizuho Analyst Says

Arcutis Biotherapeutics (NASDAQ:ARQT) had its price target lifted by Mizuho from $19.00 to $20.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently commented on ARQT. HC Wainwright began coverage on Arcutis Biotherapeutics in a report on Monday, December 30th. They issued a “buy” rating and a $19.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price objective on shares of Arcutis Biotherapeutics in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.60.

Arcutis Biotherapeutics Price Performance

ARQT stock opened at $15.76 on Tuesday. The company has a fifty day simple moving average of $12.13 and a two-hundred day simple moving average of $10.56. Arcutis Biotherapeutics has a 52 week low of $3.11 and a 52 week high of $16.20. The company has a quick ratio of 2.38, a current ratio of 2.46 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.84 billion, a P/E ratio of -8.80 and a beta of 1.30.

Arcutis Biotherapeutics (NASDAQ:ARQT) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.09. Arcutis Biotherapeutics had a negative return on equity of 119.11% and a negative net margin of 140.97%. The company had revenue of $44.76 million during the quarter, compared to analyst estimates of $38.05 million. Analysts anticipate that Arcutis Biotherapeutics will post -1.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Todd Franklin Watanabe sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $15.17, for a total transaction of $227,550.00. Following the transaction, the insider now directly owns 823,430 shares of the company’s stock, valued at approximately $12,491,433.10. This trade represents a 1.79 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Howard G. Welgus sold 10,000 shares of Arcutis Biotherapeutics stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $8.65, for a total transaction of $86,500.00. Following the sale, the director now directly owns 171,944 shares of the company’s stock, valued at $1,487,315.60. This represents a 5.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 78,291 shares of company stock valued at $927,966. Insiders own 9.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Arcutis Biotherapeutics by 9.9% in the 3rd quarter. Victory Capital Management Inc. now owns 12,843 shares of the company’s stock worth $119,000 after buying an additional 1,155 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Arcutis Biotherapeutics during the third quarter valued at $25,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Arcutis Biotherapeutics by 1.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 276,691 shares of the company’s stock valued at $2,573,000 after acquiring an additional 2,912 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in Arcutis Biotherapeutics by 29.9% in the second quarter. Dark Forest Capital Management LP now owns 27,612 shares of the company’s stock worth $257,000 after acquiring an additional 6,362 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Arcutis Biotherapeutics by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 859,846 shares of the company’s stock worth $7,997,000 after acquiring an additional 8,522 shares in the last quarter.

Arcutis Biotherapeutics Company Profile

Arcutis Biotherapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing treatments for dermatological diseases. Its lead product candidate is ARQ-151, a topical roflumilast cream that has completed Phase III clinical trials for the treatment of plaque psoriasis and atopic dermatitis.